Bonds round-up: Employment data hits bonds
UK and European government bonds were little changed today, while US government debt became cheaper in the wake of unexpectedly strong growth in US employment figures.
A report from ADP Employer Services indicated US companies added 40,000 jobs in December, compared with a consensus forecast of a 33,000 increase. The November read was revised to show a 173,000 monthly increase.
Meanwhile, official figures showed initial jobless claims eased 21,000 to 336,000 in the week to 29 December.
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The yield on the 10 year Treasury note edged 3 basis points higher to 3.94%.
In Europe, Germany's jobless total fell by more than expected in December, down 78,000 to a seasonally adjusted 3.51m.
The yield on the 10-year bund remained little changed at 4.21% while in the UK the yield on the 10-year gilt was static at 4.45%, despite expectations of an interest rate cut next week.
